SiriusXM announced Wednesday that it has named James E. Meyer its new interim CEO, replacing the departing Mel Karmazin.

Meyer had been the company's president of sales and operations since 2004.

"We are fortunate to have a very strong executive team in place at SiriusXM and in Jim we have a highly qualified leader and operator," Eddy Hartenstein, Chairman of the Board of Directors of SiriusXM, said as part of the announcement.

. "Jim has been an integral part of SiriusXM for eight years and his extensive knowledge of SiriusXM's business and significant industry experience are a great asset. Given Jim's current position, we expect this will be a seamless transition. Thanks to Mel Karmazin's leadership, strategic vision and operating focus, SiriusXM is poised for a continuation of the results and performance investors have come to expect."